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Financial Highlights

  
Net Earnings Attributable to Controlling
Interests ($ millions)
  Segment Operating Profit ($ millions) 
       
 
 
   
Return on Invested Capital   Shareholders' Equity ($ millions)
       
 
  
   
Cash Dividends Per Share    
      

 
 

Selected Financial Data (In millions, except ratio and per share data)

  2010 2009 2008 2007 2006
Net sales and other operating income $ 61,682 $ 69,207 $ 69,816 $ 44,018 $ 36,596
Depreciation 857 730 721 701 657
Net earnings attributable to controlling interests 1,930 1,684 1,780 2,154 1,312
      Basic earnings per common share 3.00 2.62 2.76 3.31 2.01
      Diluted earnings per common share 3.00 2.62 2.75 3.28 2.00
Cash dividends 372 347 316 281 242
      Per common share 0.58 0.54 0.49 0.43 0.37
Working capital $ 9,561 $ 10,523 $ 10,833 $ 7,254 $ 5,661
      Current ratio 2.1 2.2 1.7 1.9 1.9
Inventories 7,611 7,782 10,160 6,060 4,677
Net property, plant, and equipment 8,712 7,950 7,125 6,010 5,293
Gross additions to property, plant, and equipment 1,788 2,059 1,789 1,404 841
Total assets 31,548 31,582 37,052 25,114 21,269
Long-term debt, excluding current maturities 6,830 7,592 7,443 4,468 4,050
Shareholders' equity 14,631 13,653 13,666 11,446 9,838
      Per common share 22.89 21.27 21.22 17.80 15.00
Weighted average shares outstanding-basic 643 643 644 651 654
Weighted average shares outstanding-diluted 644 644 646 656 656

 

Significant items affecting the comparability of the financial data shown above are as follows:

  • Net earnings attributable to controlling interests for 2010 include a charge of $75 million ($47 million after tax, equal to $0.07 per share) related to loss on extinguishment of debt resulting from the repurchase of $500 million in aggregate principal amount of the Company's outstanding debentures, and start up costs for the Company's significant new greenfield plants of $110 million ($68 million after tax, equal to $0.11 per share).
     
  • Net earnings attributable to controlling interests for 2009 include a non-cash charge of $275 million ($171 million after tax, equal to $0.27 per share) related to currency derivative losses of the Company's equity investee, Gruma S.A.B. de C.V., and a $158 million income tax charge (equal to $0.24 per share) related to the reorganization of the holding company structure in which the Company holds a portion of its equity investment in Wilmar. For further information concerning Wilmar-related tax matters see Note 12 in Item 8, Financial Statements and Supplementary Data (Item 8).
     
  • Net earnings attributable to controlling interests for 2007 include a gain of $440 million ($286 million after tax, equal to $0.44 per share) related to the exchange of the Company's interests in certain Asian joint ventures for shares of Wilmar, realized securities gains of $357 million ($225 million after tax, equal to $0.34 per share) related to the Company's sale of equity securities of Tyson Foods Inc. and Overseas Shipholding Group Inc. and a $209 million gain ($132 million after tax, equal to $0.20 per share) related to the sale of businesses.

 

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